Cantor Fitzgerald is to expand its presence in the Irish markets through the acquisition of rival firm Merrion Capital.
Merrion, composed of the operating subsidiaries Merrion Stockbrokers, Merrion Investment Managers and Merrion Corporate Finance, will be acquired by Cantor Fitzgerald Ireland, subject to regulatory approval from the Central Bank of Ireland as well as certain other completion conditions.
“Merrion ranks as one of Ireland’s leading independent providers of financial services, with origins and values similar to Cantor’s business. The firm’s experienced team of professionals has a strong market position,” said Ronan Reid, CEO of Cantor Fitzgerald Ireland.
“The addition of Merrion’s very experienced and respected personnel to our own Wealth Management, Debt and Corporate Finance teams, together with Merrion Investment Managers, the excellent standalone Investment Management division, will create one of the largest financial services firms in Ireland, while retaining both firms’ client-centric offering and approach.”
The acquisition follows Euronext’s takeover of the Irish Stock Exchange earlier this year as the region’s financial services market continues to contract.